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Thread: Newbie success mindset.

  1. #1
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    Newbie success mindset.

    It is an obvious fact that newbies loss a lot and this could be seen as caused by the fact that they don't get the mindset right. As I would want to point out some important thing and process of learning for newbies which could help them improve and succeed with time.

    First is your MINDSET, if you are a newbie and you have the mindset that you would make a kill in forex trading in a short time, well, you are heading to experience the worst. How you program your mindset towards achieving your goals in forex trading will determine the end result. Therefore, a candid advice would be, to see it as a business, which you have to learn, build and then see the reward in years to come.

    Secondly is what you learn, well, there are a lot of things out there online, paid and free, some works and some don't work. Irrespective of how profitable it is been said to be, be wise enough to have it demo traded for at least 6-8 months before coming to conclusion if it is good or not, don't have the mindset of having a strategy start working for you shortly after you start using it.

    In conclusion, always see forex as a business which has to be learned, mastered and built and reward comes after some several months.

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  2. #21
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    I think this should be a wake up cal to all new traders in this market to understand that the forex market is never a place to make some quick money as it has been projected by those who do not have the real and practical understanding of the business of the market, forex trading is a business that we must make sure we settle down to learn over the time and make up our mind if we really want to do the business with all the risks that are involved in it.

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  3. #22
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    The cause of losses for newbies is that they want to make money in the market without experience this is why it's hard for many newbies to make money in the market, many of this newbies never take the time to learn forex properly before trading that's why they can't make any reasonable money.

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  4. #23
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    I have come to conclusion that one of the reasons why newbies do not succeed in this business is actually there mindset during the period of trading in it. If your mindset is fill with emotions, my dear you will hardly make a right decision in this business. We should try to customize our mindset to be that with positivity.

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  5. #24
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    Quote Originally Posted by newera View Post
    I think this should be a wake up cal to all new traders in this market to understand that the forex market is never a place to make some quick money as it has been projected by those who do not have the real and practical understanding of the business of the market, forex trading is a business that we must make sure we settle down to learn over the time and make up our mind if we really want to do the business with all the risks that are involved in it.
    It is not new anymore, and if they are not careful, they will be overconfident, but thinking they are doing the right thing in the forex business. Traders have to learn as they are new, and they have to take all things with ease, that is what will not help them to be too quick and they can apply trading in the better way.

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  6. #25
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    Quote Originally Posted by chioma View Post
    I have come to conclusion that one of the reasons why newbies do not succeed in this business is actually there mindset during the period of trading in it. If your mindset is fill with emotions, my dear you will hardly make a right decision in this business. We should try to customize our mindset to be that with positivity.
    The emotional altitude of a newbie in this trade will actually make it look tougher for him to establish for a perfect success. Newbies also come into this business with the mindset of making big profits in forex and this of course is one reason greed comes easily in their mind and make them realize huge loss at the end. Newbies should learn from experience and put focus to see that their goals will be met.

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  7. #26
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    the new trader should be patient and should know that success will not come easily and will not come quickly and so this will let the trader to reach his goal and success gradually, the trader needs to have good trading skills and experience and should do his best to do that and work hard to reach his goal at the end and enjoy trading.

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  8. #27
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    Quote Originally Posted by sameeh View Post
    the new trader should be patient and should know that success will not come easily and will not come quickly and so this will let the trader to reach his goal and success gradually, the trader needs to have good trading skills and experience and should do his best to do that and work hard to reach his goal at the end and enjoy trading.
    They should first understand the market for what it is and know that success is not an easy thing in forex trading, of which the best way by which they can make money from forex trading is to build a better trading understanding. Newbie has to keep in mind that no one succeed thinking that the business is a game of luck.

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  9. #28
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    For newbies to succeed in the business, they need to have great understanding, no one ever becomes successful in the market having in mind of making millions at once, it does not work that way, if we want to make money as a trader in forex trading,we need to be patient, we need to learn and master the market. It will not be an easy one, but with consistent learning we will achieve that success we aim for.

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  10. #29
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    this is good thread, the firs thing have to be prepared by traders is how to get the clear mindset before we start learning to get the knowledge and skill. good mindset become the foundation for traders to have the ability for making wise decision during in the market with implement the trading system properly where the rules will taken and followed by them
    and good mindset from beginning can make them grow maturely where they understand with all consequences which will accepted by them and so they will prepare themselves with good mental and understand to minimize the risk,

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  11. #30
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    Quote Originally Posted by RaptFX View Post
    For newbies to succeed in the business, they need to have great understanding, no one ever becomes successful in the market having in mind of making millions at once, it does not work that way, if we want to make money as a trader in forex trading,we need to be patient, we need to learn and master the market. It will not be an easy one, but with consistent learning we will achieve that success we aim for.
    Understanding the market is good, it will keep on helping traders to know the right steps to follow, and traders could use it to build more trading to add experience to what they know. This is not hard for traders, it is by continuous learning of the market, and things will become easy and more profitable for the trader.

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